386 Categories of preferential debts. E+W+S
(1)A reference in this Act to the preferential debts of a company or an individual is to the debts listed in Schedule 6 to this Act (money owed to the Inland Revenue for income tax deducted at source; VAT, car tax, betting and gaming duties [F1,beer duty][F2, lottery duty]; social security and pension scheme contributions; remuneration etc. of employees [F3;levies on coal and steel production]); and references to preferential creditors are to be read accordingly.
(2)In that Schedule “the debtor” means the company or the individual concerned.
(3)Schedule 6 is to be read with Schedule 3 to the M1Social Security Pensions Act 1975 (occupational pension scheme contributions).
Textual Amendments
F1Words in s. 386(1) inserted (1.6.1993) by Finance Act 1991 (c. 31), s. 7, Sch. 2, para. 21A (as inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 9(2)); S.I. 1993/1152, art. 3(2), Sch. 1 Pt. II
F2Words in s. 386(1) inserted (1.12.1993) by 1993 c. 34, ss. 36(1), 40(2)(3); S.I. 1993/2842, art. 3(1)
F3Words inserted by S.I. 1987/2093, reg. 2(1)(3)
Modifications etc. (not altering text)
C1S.386 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II
Marginal Citations